Properties of Exponential Functions

Exponential Functions

Learning Objectives

In this section, you will:

Evaluate exponential functions.
Find the equation of an exponential function.
Use compound interest formulas.
Evaluate exponential functions with base $e$

India is the second most populous country in the world with a population of about

$1.25$ billion people in 2013. The population is growing at a rate of about

$1.2 \%$ each year. If this rate continues, the population of India will exceed China's population by the year

$2031$ . When populations grow rapidly, we often say that the growth is "exponential," meaning that something is growing very rapidly. To a mathematician, however, the term exponential growth has a very specific meaning. In this section, we will take a look at exponential functions, which model this kind of rapid growth.

Source: Rice University, https://openstax.org/books/college-algebra/pages/6-1-exponential-functions
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